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Trust Fintech Secures Rs 5.42 Crore in Pre-IPO Funding Round

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Trust Fintech Ltd, a leading software solutions provider, has successfully raised Rs 5.42 crore in a pre-IPO funding round, paving the way for its imminent Initial Public Offering (IPO). The company, headquartered in Nagpur, filed preliminary papers earlier this month, and anticipates listing its shares on NSE Emerge in March.

The pre-IPO funding round saw participation from notable investors, including Tejas Goenka, MD of Tally Solutions; Nitin Sathawane, Head of Business at Mphasis Canada; Ramnath Raikar, former Treasury Head at HDFC Bank; and Sameer Gupte, MD at NSDL Data Management Ltd.

Trust Fintech specializes in providing core banking Software as a Service (SaaS) products, along with fintech software solutions related to Enterprise Resource Planning (ERP) implementation and custom software solution development. The company is also engaged in offering SAP B1 and Offshore IT services tailored for the Banking, Financial Services, and Insurance (BFSI) sector.

According to the Draft Red Herring Prospectus (DRHP), the IPO will consist of a fresh issue of 62,82,000 equity shares. The funds raised through the IPO will be allocated for various purposes, including the establishment of a new development facility at Mihan Special Economic Zone (SEZ) in Nagpur. Additionally, the proceeds will be utilized for funding global and domestic business development initiatives.

Tejas Goenka, MD of Tally Solutions, expressed confidence in Trust Fintech’s future, stating, “We believe in the company’s vision and its potential to drive innovation in the fintech sector.”

The company’s financial performance during the first half of the current fiscal year reveals a total revenue of Rs 18.83 crore and a commendable profit of Rs 7.27 crore.

Corporate Capital Ventures Pvt Ltd serves as the book-running lead manager for the upcoming IPO, while Bigshare Services Pvt Ltd takes on the role of the registrar for the issue.

Trust Fintech’s strategic utilization of funds aims to reinforce its position as a key player in the fintech landscape, with a focus on technological advancement and global expansion.